The world is now undergoing some profound changes. Nowhere are these changes more prominent than in the global financial order as well as regional and world security.

BRICS countries are now taking the initative to establish their own development bank as reforms on the governing structure of the IMF and the World Bank still leaves a lot to be desired. The infamous rise of ISIS in Iraq, which has drawn in a large number of fighters from the West, notably Britain, the US, Australia and Belgium, has prompted US President Obama to order air strikes to halt its further advancement. While Britain has become the first country to raise security level posed by ISIS on their home soil.

In Ukraine, the meddling of US-led NATO has precipitated strong reaction from Russia. As of Wednesday, Russia and Ukraine have reached a long term cease-fire deal over the fighting in eastern Ukraine. But the future is still far from certain.

While in the East China Sea, the growing assertiveness of Japan militarily is now putting itself and China on a collision course.

So what risks are these highly fluid issues posing to regional and global security? How can we contain the potential crisis that arises from them?

Ni Hao, you're listening to People In the Know, presenting you with insights into the headlines in China, and around the world, I'm Zheng Chenguang in Beijing.

In this edition of the program, we speak to Helga Zepp-LaRouche, Founder of the Schiller Institute, an international political and economic think tank.